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Are you considering selling your business? Darren Hodson, Corporate Finance Partner at PKF Smith Cooper, offers his expert advice on how to maximise your sale value in five steps, including: 1. Planning for the sale in advance 2. Preparing a business valuation 3. Improving your operational performance 4. Understanding the marketplace 5. Seeking specialist support Read more about how you can get the best possible value when selling your business here: https://bit.ly/49E8KDB #businessadvice #businessadvisory #businessblog

Business accounting can take up a considerable amount of time! This is where our expert team can step in. We'll make sure everything is in the required format, whether you're a sole trader, partnership or Limited Company. This makes it easy to accurately track the performance of your business. Find out more here: https://bit.ly/4d7iwzl #AnnualAccountsPreparation #BusinessPerformance #Accountant #TaxAdvisor

BDO corporate finance partner, Gemma Lynam lists some “top tips” for founders looking to exit or sell their business following an interview with Smart Company. Gemma stresses that thorough preparation is crucial in addition to strong financials, diverse revenue, and solid management teams. Read the full story via Smart Company: “A buyer’s due diligence process will always pick up any quick fixes that are not sustainable, particularly those relating to revenue and profit margins,” said Gemma Lynam, BDO corporate finance partner. “There’s no advantage in presenting a great looking company to a buyer, when it becomes evident during the due diligence process the presented information or performance is not naturally sustainable.”

It's a good day to pick up from where I stopped... Today we're looking at actions that looks minor yet having huge effect on businesses: a. Recording of every transaction both Revenue and expenditures, ensure to write down everything going on financially in that business. b. For proper Accountability, separate Personal account from business account. The principle of entity. c. Deciding on which accounting basis to use, Cash or Accrual basis. If you want further explanation on this, place a comment. d. Making it a priority to Balance your books frequently; monthly, quarterly, half of the year, yearly. e. Having a Financial advisor/ an accountant for your business; this will save you lots of loss and help you manage you manage prospective business risks

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Understanding Capital Accounts in a Partnership Firm The capital account in a partnership firm shows each partner's equity and includes additional capital contributions, withdrawals, interest on capital, interest on drawings, and profit distribution. The balance reflects the net worth of each partner in the firm. Journal Entries for Interest on Capital: Interest on capital A/c                               Dr.     To Partner’s capital A/c (Being interest on capital provided @ %) Profit & loss Appropriation A/c               Dr.    To Interest on capital A/c (Being Interest on capital transferred to final account) Methods of Preparing Capital Accounts: Fixed Capital Method: Capital Account: Records only initial contributions and permanent changes. Current Account: Records profit sharing, interest on capital, salaries, and withdrawals. Example for Partner A: Capital: ₹50,000 Drawings: ₹5,000 Share of Profit: ₹10,000 Interest on Capital: ₹2,000 Capital Account Balance: ₹50,000 Current Account Balance: ₹7,000 Fluctuating Capital Method: Maintains a single account for all transactions. Example for Partner A: Initial Capital: ₹50,000 Drawings: ₹5,000 Share of Profit: ₹10,000 Interest on Capital: ₹2,000 Capital Account Balance: ₹57,000 Choosing the Right Method: Fixed Capital Method: Ideal for larger, complex firms needing clear distinctions between capital and operational transactions. Fluctuating Capital Method: Simpler for smaller firms with straightforward financial activities. Select based on the firm's specific needs, transaction complexity, and the importance of clarity and transparency in financial records. #Accounting #Finance #Partnerships #BusinessManagement #CapitalAccounts

[How Lawyers Can Assist in Financial Due Diligence Processes] In the realm of corporate finance, the term “financial due diligence” stands as a sentinel guarding the interests . . . https://lnkd.in/dhw6TfdT

💡 Hint: In the world of accounting, this term refers to the original and primary record upon which all financial transactions are based. It is a vital piece of evidence for bookkeepers and auditors alike, serving as a concrete proof of a business's financial activities. Think of it as the backbone of business transaction verification, often taking the form of bills, receipts, or contracts. What is this foundational document called?

Scope of Business Finance The scope of a subject refers to the investigation or study that it covers. Business finance is thus a broad topic. Business finance researches, analyzes, and investigates various elements of business funding acquisition and allocation. Business finance covers a variety of sectors, including: 1. Financial Planning and Control A business must manage, analyze, and plan its finances. To establish these plans and manage them, the financial manager should be familiar with the firm's financial status. On the basis of this information, he or she governs the firm's goals and management strategies for its future financial status in a new economic environment. 2. Financial Statement Analysis One of the functions of business finance is to assess financial statements. It also examines the financial conditions and issues that develop throughout the promotion of the business firm. This statement includes the financial aspects of promoting new businesses, administrative challenges to expansion, and necessary adjustments for the rehabilitation of a troubled corporation. 3. Working Capital Budget Working capital management refers to financial decisions made about current or short-term assets. Short-term survival is necessary for long-term success, which is the most crucial component in a firm. #businessfinance #budget #expertadvice #maplewinguae

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